In an electric mixer on medium speed, COMBINE the first six ingredients until thick and smooth, about 1 1/2 minutes.
Gently FOLD in chocolate chips with a wooden spatula.
SPRAY a 12-cup Bundt pan with cooking spray; POUR in batter.
BAKE until toothpick inserted in center of cake comes out clean, about 50-55 minutes.
REMOVE from oven; let STAND for 15 minutes; TURN on wire rack; REMOVE from pan.
Top with a dusted powdered sugar.
Per Serving (excluding unknown items): 2321 Calories; 93g Fat (33.9% calories from fat); 30g Protein; 377g Carbohydrate; 12g Dietary Fiber; 79mg Cholesterol; 4222mg Sodium. Exchanges: 1/2 Lean Meat; 0 Non-Fat Milk; 18 Fat; 25 Other Carbohydrates.